Discovery acquires Scripps Networks for £11.1bn

The deal values SNI stock at $90 per share. Xact Kapitalforvaltning AB's holdings in Discovery Communications were worth $1,878,000 as of its most recent filing with the SEC. Needham & Company LLC lowered shares of Scripps Networks Interactive from a "buy" rating to a "hold" rating in a research note on Monday. Current price places the company's stock -77.05% away from its 200-day simple moving average, -2.99%, away from the 50-day average and also 2.12% away from 20-day average.

The schedules to the Agreement and Plan of Merger have been omitted from this filing Discovery Communications, Inc. "While it could be argued that the move is somewhat defensive by Discovery, scale for programmers will be increasingly important", he wrote in a report.

ILLEGAL ACTIVITY NOTICE: "Discovery Communications, Inc". The company rocked its 52-Week High of $30.25 and touched its 52-Week Low of $23.96.

Discovery has a market capitalization of $11.4 billion. The company reported $0.68 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.72 by $0.04, Bloomberg Earnings reports. The firm had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.76 billion. Scripps Networks Interactive had a return on equity of 39.52% and a net margin of 29.21%. The business's revenue was up 3.3% compared to the same quarter a year ago. The count of Hold ratings in that period was 0. (NASDAQ:DISCA) to report $ 0.55 EPS and has got OUTPERFORM rating from 2 of Thomson Reuters analysts and 5 analyst (s) given UNDERPERFORM rating.

ILLEGAL ACTIVITY WARNING: This news story was first published by Transcript Daily and is the property of of Transcript Daily. If you are reading this news story on another website, it was illegally stolen and republished in violation of USA and global copyright and trademark legislation. The analyst recommendations from a month ago are 1 Buy, 0 Overweight, 0 Sell, 0 Hold and 0 Underweight. Discovery Communications now has an average rating of "Hold" and an average target price of $28.65. The company said it will generate a combined 7 billion short-form video streams monthly. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Discovery was down 8.4 percent and trading at $24.55 at publication. The stock was sold at an average price of $25.98, for a total value of $229,455.36. The disclosure for this sale can be found here.

Several other large investors also recently added to or reduced their stakes in the company. Its segments include U.S.

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